Tom & Shirley Palmer Family Foundation
- Assets
- $297.3k
- Revenue
- $80.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Johnson City, TN
- Founding
- 05/2008
- Data as of
- 12/2023
- EIN
- 20-4079745
Organization Overview
Tom & Shirley Palmer Family Foundation is located in Johnson City, TN. The organization was established in 2008. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tom & Shirley Palmer Family Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Tom & Shirley Palmer Family Foundation generated $80.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.9% each year . All expenses for the organization totaled $61.3k during the year ending 12/2023. While expenses have increased by 24.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Tom & Shirley Palmer Family Foundation has awarded 42 individual grants totaling $224,899. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $136 |
| Dividends & Interest | $0 |
| Net Rental Income | $63,486 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $79,963 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,498 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $12,938 |
| Total operating and administrative expenses | $16,341 |
| Contributions, gifts, grants paid | $45,000 |
| Total expenses and disbursements | $61,341 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $50,545 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $246,729 |
| Other assets | $0 |
| Total assets | $297,274 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Tom & Shirley Palmer Family Foundation has awarded $45,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
FIRST UNITED METHODIST CHURCH PURPOSE: CHURCH | $5,500 |
DOE RIVER GORGE MINISTRIES PURPOSE: CHILDREN MINISTRY | $12,000 |
FAIRVIEW COMMUNITY CENTER PURPOSE: COMMUNITY OUTREACH | $10,000 |
BROTHER'S KEEPER PURPOSE: CHARITABLE | $2,500 |
FAMILIES INVOLVED SERVING HUMANITY INC PURPOSE: CHARITABLE | $7,500 |
RYE COVE HIGH SCHOOL PURPOSE: CHARITABLE | $2,500 |